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I think the issue is that Randeep is perceived as a bit of a dodgy bu115h1tt3r. He's defaulted on debts with G3E and didn't pay the dividend he was supposed to and he pulled the same stunt with a previous company and had JOL forced on him with that.
However, the real good news here is that G3E has some good opportunities and we are in JPL. If Randeep wants to be taken seriously he has to see this through and the JPL folks (who are appointed by the Judge/Court of the Caymen Islands) want a good solution to this to preserve the integrity of the Caymen Islands as a business hub.
Also this is LSE listed and any financial funny business will make London look ridiculous as well.
Make no mistake, if this goes ***5up the outcry will be vast and Randy will look like a right nonce, the LSE will appear a joke and the Caymen Islands will be a laughing stock.
Also, if it goes belly up the debtors will go after Randy like a biblical plague and it will be very public.
So, rather than him playing with his vineyards and pretending to be a business man he'd better get his house in order ASAP, and to be slightly fair to the man I do believe he realises this fact :).
MMs know the history which is why they are playing the share.
GLA, we are taxiing on the runway at the moment ready for takeoff.
I don't get it either. I would expect trading to pick up as well due to the court date next week.
I didn’t sell at 39p and I’m not selling now! But the way this has slid back down to where we are does have me questioning myself! Did we get this wrong? I don’t think we did and all the research that I did pointed to this being a no brainer a (for once) genuinely undervalued opportunity! So why why why have we not been trading higher .... I just don’t get it!
MMs appear to be playing some classic games on this stock. When you think about it zero bad news since JPL news when this hit 39p, we have just had clarification and non regulated RNS from JPLs kind of introducing themselves. MMs have literally walked this down for expected news next week...reason tiny free float and they’re trying to flush every ounce out of any sellers as they can!
They are some big holders here, we have had zero TR-1s, so I think this explains it. So MMs have literally dropped this 80% on zero news...and this they’ve done this to a fully listed LSE stock!
Randeep must start delivering now...he has already told us JPL outcome was extremely positive and gives him the time needed to restructure, the RBL must surely now be close to conclusion, so must be asset sale as this process stated over a year ago...it must be said time has come to start delivering?
Yes isn’t it...these reasons why you are able to buy these shares at these ridiculously basement prices. A full listed LSE O&G company with assets value over £1bn quids with only 300m debt, and working with hugh partners like Petrochina...if it wasn’t for these delays we would be trading in the £1s...! High Risk vs hugh reward...
I’ve had two conversations and they both made me think different. I have many pros and cons to both sides. I don’t think I’ll add more no but keep what I have I do just see this as a gamble now but with some good background/knowledge. Like Latino I agree with all that but then flip and say why have they been talking about it for so long yet still not delivered why even let it get this far to the point they could enter administration....but then the share price is so low any positive outcome sends a rocket
But remember G3E asked and wanted JPL as they felt they already have a strategy and a plan to restructure:
1) RBL Loan
2) Asset Sale
3 ) Hong Listing of GDG
With JPL they are able to get on with this obviously under the watchful eyes of the JPLs. Let’s see but they got what they wanted so highly likely they will deliver. Gla
Will you not be buying anymore then gggg if it goes below 10p
Yeh Latino that’s true but problem is G3e are bent over a barrel currently with very little negotiating power. And that’s the value of the asset in the ground....
It’s a no brainer asset value around $1.4Bn and debt to pay around $300m. What I’ve heard is all progressing nicely..gla
I didn’t take it like that after a further conversation. I’m less comfortable here as there could be a lock jn
If that’s the case, then it’s excellent news and very positive! This is because they would only get an extension if they can prove they have a cunning and viable restructure plan...but just need a little more time to fine tune the details before presenting it!
I am hoping for a drop that the mms manufacture as I think I could get sub 10 as they are close they may try it again before a rise. Whilst I spoke to the team yesterday and they are working hard no time frames still and could be extended beyond. Sit and wait but I only got a little in here
Maybe off topic, but this company having operations in China. Could that affect the SP today and in the following days? I am tempted to load one more round on this, currently 11p. But I suspect it might go under 10p just before the jump. Any opinions? Cheers
Latino, couldn't agree more, but seriously wondering why would anyone in their right mind offload this these shares right now?
Hopefully not long now...these mini sellers and MMs using it to drop SP. Can’t for the right news to land...these sellers will end up paying hugh premium to get back in.
News about be announced I guess...
Oooh gggg21, come on, you can't leave us hanging like that :)
Do they sound positive about everything?
Anyone else contacted the jpl they are quite helpful
Guys, remember the forecast and buy recommendation:
https://www.proactiveinvestors.co.uk/companies/news/903743/vsa-capital-market-movers---g3-exploration-903743.html
Prior to the JPL the company was undertaking a strategic review and the JPL has now added pace and focus to the review. There is no way the Cayman Islands legal system is going to want to be embarrassed by bad financial news so the Judge must have had confidence in what the company was doing otherwise they would have been hit with a full JOL.
This is a main listed stock and not an AIM basketcase so tighter governance etc.
There should be good upside here, not sure how the upside will present itself as we have had day traders cause havoc with the ups and downs and also MMs taking the Michael regularly.
I'm dug in and not letting go, so best of luck to you all and here's hoping :)